Alumni Ventures ezona Sebenzi kuQoqosho lwePateni
YINTONI UKUBONWA KOMfanekiso?
“Ukuqatshelwa kwepateni sisakhono esibalulekileyo kwimali eyinkunzi yoshishino… ngexa izinto zempumelelo kwishishini leshishini zingaphindi ngokuchanekileyo, zihlala zinemvano-siphelo. Ekuvavanyeni iinkampani, iVC ephumeleleyo iya kuhlala ibona into ebakhumbuza ngeepateni abakhe bazibona ngaphambili. "
UBruce Dunlevie, uMlingane Jikelele kwiBenchmark Capital
Ekukhuleni kwethu, abazali bethu babesoloko begxininisa ukubaluleka kokuba “ukuqhelisela kugqibelele.” Nokuba ufunda umdlalo omtsha, ufunda, okanye ufunda nje ukukhwela ibhayisekile, amandla okuphinda-phinda kunye nokungaguquguquki kudala kungqineke kuluncedo. Ukusebenzisa inzuzo yamava ukuqaphela iipateni kunye nokuqokelela ukuqonda kwikamva sisakhono esibalulekileyo esaziwa ngokuba yipatheni yokuqaphela. Ukuqondwa kwepateni yinxalenye ebalulekileyo yotyalo-mali lwelinge, njengoko abatyali-mali abaninzi abanamava besebenzisa amava exesha elidlulileyo ukwenza izigqibo ngokufanelekileyo malunga notyalo-mali lwangoku1.
Iipateni zeVenture, i-VC Pattern Matching, https://venturepatterns.com/blog/vc/vc-pattern-matching.
Iipateni ezivela kwiiPros
Njengemisebenzi emininzi, okukhona usenza into, kokukhona kuba lula ukuqaphela iimpawu ezintle nezimbi. Kwi-capital capital, kuthatha ukuhlalutya izivumelwano ezininzi ukuqala ukubona iipatheni zempumelelo. “Kufuneka ubone izivumelwano ezininzi ukuze uqonde ngokwenene kwaye uchaze ngokwenyani phakathi kweenkampani ezilungileyo kunye nokuba zeziphi iinkampani ezinkulu,” utshilo uWayne Moore, uMphathi oMphathi weNgxowa-mali yeMbewu ye-Alumni Venture. "Kuthatha iitoni kunye neetoni zokuphindaphinda ukuphuhlisa ukuqondwa kwepateni."
Umzekeloample
I-Purple Arch Ventures (ingxowa-mali ye-Alumni Ventures kuluntu lwaseMntla-ntshona) uMphathi oLawulayo uDavid Beazley ukhangela umseki ophumeleleyo wokuqalisa-ukuphuma we-3x njengophawu oluhle lwenkampani olutsalela ingqalelo yakhe kwangoko. Ngokwahlukileyo, i-Lakeshore Ventures (ingxowa-mali ye-AV yeYunivesithi yaseChicago) Ukulawula uMlingane u-Justin Strausbaugh ujonge ukungafani kobuchwephesha okanye imodeli yeshishini kunye neteknoloji yeqonga eya kuvumela ukukhula kwexesha elizayo kunye neepivots.
Sithethe nzulu ngakumbi kunye ne-MP u-Beazley kunye ne-MP uStrausbaugh ukuqonda ngcono iipateni ezithile abazijongayo.
Ke, isenzo sokuqondwa kwepateni siluphucula njani urhwebo?
Ngokutsho kweBeazley, iphucula isantya kunye nokusebenza kakuhle. “Xa unokuphelisa ngokukhawuleza izivumelwano ezingalunganga kwaye ugxile kuphela kwezo zinokuba ngabavelisi benkxaso-mali, awusayi kutsala nzima izixhobo zakho kwaye ungawuphucula umndilili wokubetha kwakho ngokugxila kuphela kugwayimbo,” utshilo.
Ngawaphi amanye amacandelo aphambili ojongayo xa uhlalutya isivumelwano?
UBeazley uthi into yokuqala ayijongayo “yintlungu.” Uyacacisa, “Yiyiphi ingxaki econjululwayo? Kwaye inkulu kangakanani imarike? Emva koko, ndijonge imveliso okanye inkonzo yokusombulula ingxaki, iqela elisemva kwayo, kunye nexesha lesiphakamiso sexabiso labo. Ndikhe ndeva abaninzi bechaza oku ngokwezekeliso njengeTrack (imarike), iHashe (imveliso okanye inkonzo), iJockey (umseki kunye neqela), kunye neemeko zemozulu (ixesha). Ukuba sibeka bonke abo “A+,” sisukela loo mathuba ngamandla.
UStrausbaugh uthi uyathanda isakhelo esikhutshwe yiSikolo soShishino sase-UChicago esibizwa ngokuba NGAPHANDLE-IIMPACTS - ii-acronyms ezimbini ezithatha izinto eziphambili zemibuzo ebuzwayo xa uhlalutya isivumelwano. NGAPHANDLE umele ithuba, ukungaqiniseki, iqela, isicwangciso, utyalo-mali, isivumelwano, ukuphuma. IMPENDULO imele umbono, imarike, ubunini, ukwamkelwa, ukhuphiswano, ixesha, isantya.
Ngaba kukho naziphi na izaphuli-mthetho ngoko nangoko okanye iiflegi ezibomvu ezikuthintela ekuqhubeleni phambili ngesivumelwano?
U-Beazley uthi uphawu oluphambili lwesilumkiso ngumseki obuthathaka. “Ukuba umseki akangombalisi wamabali osebenzayo kwaye akakwazi ukuchaza ngokucacileyo ukuba kutheni beza kuphumelela udidi, kunzima kuthi ukuqhubeka notyalo-mali,” utshilo. “Kwangokunjalo, kunzima ukutsala italente ukuba iphumeze ngobuchule xa umseki esokola ukuthengisa umbono wakhe kwabanye. Kananjalo baya kusilela ukufumana inkunzi esisigxina (okt, equity) efunekayo ukwakha ishishini elikhulu.”
U-Strausbaugh uyavuma, ephawula ukuba nawuphi na umbuzo wenkampani yokukwazi ukuphakamisa inkunzi yiflegi ebomvu. “Ndijonge nantoni na eza kwenza kubenzima kwinkampani ukunyusa umjikelo olandelayo wenkxaso-mali. Oko kubandakanya ilungelo lokuqala lokwala kwizicwangciso-qhinga, imigaqo ekhethwayo kubatyali-mali bangaphambili, imiba yobunini be-IP, ukuhla, amatyala amaninzi anengxangxasi yokuhamba kwemali, njl.njl.
Zeziphi iimpawu zokuqala zenkampani ebezisoloko ziziimpawu zempumelelo yexesha elizayo?
"Iinkampani eziphumeleleyo zasendle zihlala zinento ekhethekileyo ekunikezeni kwazo," utshilo uStrausbaugh. “Isenokuba bubugcisa okanye imodeli yeshishini (cinga ngo-Uber/AirBnB). Ekugqibeleni, lonke udidi / umzi-mveliso ulandela (i-Lyft, njl.) kunye nabanye beza ngokusekwe kumgangatho wabo wokwenza.
UBeazley ukholelwa ukuba umseki onamava yenye yezona mpawu zithembisayo zokuqalisa ngempumelelo. “Umntu okhe wakhona kwaye wayenza ngaphambili kwaye uyayazi indlela yokwakhiwa kwexabiso lezabelo ngokuhamba kwexesha,” utshilo. "Umntu okholelwa kakhulu kuye ukuze akwazi ukoyisa imiqobo emininzi, izithintelo, kunye nokuthandabuza okuza ngokwemvelo ngokwakha into entsha."
UKUSEBENZISA I-AV SCORECARD
Ukuze siqeshe ngokunempumelelo ngakumbi ukuqondwa kwepateni kwi-Alumni Ventures, sisebenzisa indlela eqeqeshekileyo ukujongana novavanyo oluhambelanayo kwingxowa-mali nganye kunye notyalo-mali ngalunye. Ngokusebenzisa ikhadi lamanqaku, siququzelela kwaye sibeka emgangathweni imiba engundoqo yovavanyo lwesivumelwano, sinikezela ngokubaluleka okubalulekileyo kwinto nganye.
Yenziwe malunga nemibuzo engama-20 kwiindidi ezine - equka umjikelo, umtyali-zimali okhokelayo, inkampani, kunye neqela - ikhadi lamanqaku le-Alumni Ventures linceda iKomiti yethu yoTyalo-mali ilandele ipatheni engaguqukiyo xa ifumana amaxabiso ezinto ezithengiswayo.
- Icandelo elijikelezayo -Imibuzo malunga nokwakhiwa okungqukuva, uqingqo-maxabiso, kunye nomgaqo weenqwelo-moya.
- ICandelo loMtyali-mali elikhokelayo -Uvavanyo lomgangatho oqinileyo, ukuzithemba, kunye necandelo/amacandelotage
- ICandelo leNkampani -Uvavanyo lwemfuno yabathengi, imodeli yeshishini lenkampani, amandla enkampani, ukusebenza kakuhle kwenkunzi, kunye ne-moats yokhuphiswano.
- ICandelo leQela – Ukuphonononga i-CEO kunye neqela lolawulo, kunye neBhodi kunye nabacebisi, ngeliso lokurekhoda, isethi yezakhono, ubuchule kunye nenethiwekhi.
UKUPHEPHA I-BIAS
Ngelixa kukho izibonelelo ezininzi kwipateni yokuqatshelwa kwimali eyinkunzi yemali, kukwakho ukubakho komkhethe ongamkelekanga. UmzekeloampLe, ii-VCs zihlala zigweba ngokungazi malunga nenkangeleko yomseki ngaphandle kokuqonda okwaneleyo kwinkampani okanye imodeli2.
Ngokophando lwakutsha nje olwenziwe yi-Axios, i-venture capital isalawulwa ngamadoda3. Ngelixa sikwi-Alumni Ventures, sikholelwa ngamandla kumandla okuxhasa abaseki neenkampani ezahlukeneyo - siqwalasele le thesis kwiNgxowa-mali yethu ye-Anti-Bias - kusekho amandla okuqondwa kwepateni agutyungelwe lucalucalulo lwenkqubo.
"Abantu banentambo ukujonga iindlela ezimfutshane," utshilo u-Evelyn Rusli, uMseki kunye noMongameli weYumi, umthengi othe ngqo, uphawu lokutya komntwana oluyinxalenye ye-Alumni Ventures Anti-Bias Fund portfolio. “Xa ubonile sampngaphantsi kwempumelelo, ufuna ukungqamanisa oko ngokusondeleyo kangangoko. Kukho uxinzelelo olukhulu kubatyali-mali ukuba bafumane abaphumeleleyo, kwaye ngamanye amaxesha abatyali-mali baya kusilela kwiipateni zolondolozo ukuze benze oko. Ezi zikhetho azikho kwindawo yobubi - emva koko, wonke umntu ufuna ukufumana uMark Zuckerberg olandelayo. Kodwa ngokuqinisekileyo benza kube nzima ngakumbi kumaqela angamelwanga kangako ukuba agqobhoze. ”
Kanye njengokuba kuluncedo ukuqaphela iipateni xa sifumana amaxabiso ezivumelwano, kukwabalulekile ukuba siziqeqeshe ukuze siqonde ukubakho komkhethe. UJustin Straus-baugh ukholelwa ukuba indlela yokulwa noku kukusebenzisa ikhadi lamanqaku lika-AV, ukufuna izimvo ezichaseneyo, kunye nokuthetha neengcali kushishino. Ukongeza, uDavid Beazley ukhuthaze ukuba eyona ndlela yokuthintela ukuthambekela kwenkqubo kukukhangela iyantlukwano ngenkuthalo. Uthi: "Iimeko ezahlukeneyo ezivela kubantu abavela kwiimvelaphi ezahlukeneyo kuphela kwendlela yokuphepha ukhetho olubi.
Iingcamango Zokugqibela
Ihlabathi leshishini lihamba ngokukhawuleza, kwaye kwi-Alumni Ventures, siyaphindaview phezu 500 izivumelwano ngenyanga. Ukwazi ukuqaphela ukungaguquguquki kwepateni ngokusebenzisa ubuchule bomntu kunye nekhadi lethu lamanqaku le-AV lenza uhlalutyo lwezivumelwano lukhawuleze kwaye lusebenze ngakumbi. Kwangaxeshanye, amaqela ethu otyalo-mali awohlukeneyo nazinikeleyo asebenza kunye ukulwa umkhethe wenkqubo, sizikhumbuza ukuba njengabatyali-mali kwinguqulelo entsha, kufuneka silumkele okunokwenzeka kwezinto ezintsha nezahlukileyo.
Ulwazi oluBalulekileyo lokuDiza
Umanejala weeNgxowa-mali ze-AV yi-Alumni Ventures Group (AVG), i-venture capital firm. I-AV kunye neemali azidibananga okanye zivunywe yiyo nayiphi na ikholeji okanye iyunivesithi. Ezi mathiriyeli zibonelelwa ngeenjongo zolwazi kuphela. Unikezelo lwezibambiso lwenziwa kuphela kubatyali-zimali abavunyiweyo ngokungqinelana namaxwebhu anikezela ngengxowa-mali nganye, achaza phakathi kwezinye izinto umngcipheko kunye neentlawulo ezinxulumene neNgxowa-mali ekufuneka ziqwalaselwe phambi kokuba kutyalwe imali. Iimali lutyalo-mali lwexesha elide olubandakanya umngcipheko omkhulu welahleko, kubandakanywa ilahleko yayo yonke inkunzi etyaliwe. Intsebenzo yangaphambili ayibonisi iziphumo zexesha elizayo. Amathuba okwenza utyalo-mali kulo naluphi na ukhuseleko (lweNgxowa-mali, lwe-AV okanye kumnikelo wokuthengisa) ayisosiqinisekiso sokuba uya kukwazi ukutyala kwaye uxhomekeke kuyo yonke imimiselo yomnikelo othile. Ukwahlukana akukwazi ukuqinisekisa inzuzo okanye ukukhusela ekulahlekeni kwimarike ehlayo. Sisicwangciso esisetyenziselwa ukunceda ukunciphisa umngcipheko.
I-AV ibonelela ngotyalo-mali olulula, olulula kubatyali-mali abavunyiweyo. Ngokukodwa, i-AV ibonelela ngendlela yokuba abantu ngabanye babenepotfoliyo yelinge elawulwa ngokukhutheleyo enotyalo-mali oluhlangeneyo kunye neefemu zeVC ezinamava. Ngokwemveli, ngenkunzi yotyalo-mali enyiniweyo kunye noqhagamshelwano, abatyali-zimali ngabanye baye banofikelelo olulinganiselweyo kwizivumelwano ezinqwenelekayo kunye neefemu zeVC ezinamava, kwaye nokuba banokufikelela kwisivumelwano esinye okanye ezingaphezulu ezinjalo, kuya kuthatha ixesha elininzi, imali, kunye nothethathethwano ukwakha ipotfoliyo eyohlukeneyo. NgeeNgxowa-mali ze-AV, abatyali-mali banokukhetha kwinani leemali ukwenza utyalo-mali olunye ukuze bafumane ukutyhileka kwipotfoliyo yotyalo-mali eyohlukeneyo ekhethwe ngumphathi onamava. Iindlela ezilula zeentlawulo ze-AV Funds zivumela abatyali-mali ukuba baphephe iminxeba yemali eyinkunzi rhoqo kubomi bengxowa-mali njengoko ifumaneka kwezinye izithuthi zotyalo-mali lwabucala. F50-X0362-211005.01.
Amaxwebhu / Izibonelelo
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Alumni Ventures ezona Sebenzi kuQoqosho lwePateni [pdf] Isikhokelo somsebenzisi IiNgcebiso eziGqwesileyo zoQoqosho lwePateni, kuQwaqosho lwePateni, ukuNakana kwePateni, ukuQoqoshwa, ezona Sebenzi ziPhumelelayo |
